by Mike Garafolo, USA TODAY Sports

by Mike Garafolo, USA TODAY Sports

The New York Giants' "risk" in allowing Victor Cruz to hit the open market appears to have paid off.

The deadline for teams to extend offer sheets to players who received tenders as restricted free agents has passed and no word of an offer is apparent. Teams had until 11:59 p.m ET Friday to do so.

That means the Giants basically now are bidding against themselves for Cruz, who has yet to sign the tender offer of one year for $2.879 million.

Of course, this latest development doesn't mean the posturing is done. Cruz, who hasn't made an appearance during offseason workouts, still wants a long-term deal and doesn't seem interested in signing his tender. The Giants would like to give Cruz that deal as well, but the team's offers of more than $7 million per season haven't been enough for him to accept.

Giants president John Mara knew he and upper management were taking a "risk" in giving another team a chance to make Cruz an offer, though the Giants would've had the right to match or receive a first-round pick as compensation. Now, if Cruz doesn't sign his tender by June 17, the team can lower its offer to a 10 percent raise over what Cruz made last season when his base salary was $540,000.

Such a move would seemingly only anger Cruz, who has been silent over the past few months and hasn't spoken publicly about his contract at all.